european union research in economics

8/14/2019 European Union Research in Economics

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European Union

Researchin Economics

Socio-economic Sciences and HumanitiesGrowth, Employment and Competitiveness in a Knowledge Society


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EUROPEAN COMMISSION

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Directorate L Science, economy and society

Unit L.2 Research in the economic, social sciences and humanities - Prospective

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Socio-economic Sciences and Humanities

EUROPEAN COMMISSION

EUR 234742008

European Union Research in Economics

GROWTH, EMPLOYMENT AND COMPETITIVENESSIN A KNOWLEDGE SOCIETY

Seventh Research Framework Programme"Socio-economic Sciences and Humanities"

(2007 2008)


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Luxembourg: Office for Official Publications of the European Communities, 2008

ISBN 978-92-79-09457-6

ISSN 1018-5593DOI 10.2777/8473

European Communities, 2008

Reproduction is authorised provided the source is acknowledged.

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European Commission

EUR 23474- European Union Research in Economics - Socio-economic Sciences and Humanities -

Growth, Employment and Competitiveness in a Knowledge Society

2008 44 pp. 21,0 x 29,7 cm

Luxembourg: Office for Official Publications of the European Communities

ISBN 978-92-79-09457-6

ISSN 1018-5593

DOI 10.2777/8473


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This brochure describes EU projects mostly coming from the activity entitled "Growth, employment and competi-

tiveness in a knowledge society" of the Socio-economic Sciences and Humanities Programme. The focus of this

publication is on the European knowledge society (Lisbon Agenda) but it covers also issues related to policy evaluation

and economic governance. The projects included in this brochure aim at answering the following questions: How to

succeed in the age of globalisation? What are the impacts of research and innovation on growth and employment?How does internationalisation affect the localisation of knowledge-intensive activities of firms? What is the overall

importance of service industries in European growth? How can the intangible assets be measured? What is theoptimal public spending distribution? How is "entrepreneurship" evolving in Europe?

KI-NA-23474-EN-C


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- 1 -

EUROPEAN UNION RESEARCH IN ECONOMICS - 2007-2008

TABLE OF CONTENTS

Globalisation and knowledge economy, evaluation of EU policies

PROPOSAL TITLE PROJECT COORDINATOR

217296GLOBINN

The changing nature of internationalization ofinnovation in Europe: impact on firms and theimplications for innovation policy in the EU

Dr Parimal PATEL 4

217436SCIFI-GLOW Science, innovation, firms and markets in aglobalized world Prof. Mathias DEWATRIPONT 6

217559PEGGED

Politics, economics and global governance:the European dimensions

Prof. David VINES 8

225134AEGIS

Advancing knowledge-intensiveentrepreneurship and innovation for growthand social well-being in Europe

Ms Maria LEGAL 10

225368INGINEUS

Impact of networks, globalisation, and theirinteraction with EU strategies

Dr Alireza NAGHAVI 12

225551EFIGE

European firms in a global economy: internalpolicies for external competitiveness

Prof. Gianmarco OTTAVIANO 14

225281WIOD

World input-output database: constructionand applications

Prof. Erik DIETZENBACHER 16

217299INNOS&T

Innovative S&T indicators combining patentdata and surveys: empirical models and policyanalyses

Prof. Alfonso GAMBARDELLA 18

217397DEMETER

Development of methods and tools forevaluation of research

Prof. Paul ZAGAME 20


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Intangible investments, service-oriented economy and macro-economic policies

PROPOSAL TITLE PROJECT COORDINATOR

214576INNODRIVE

Intangible capital and innovations: drivers ofgrowth and location in the EU

Prof. Piekkola HANNU 22

216813IAREG

Intangible assets and regional economicgrowth

Dr Jordi SURINACH I CARALT 24

217512COINVEST

Competitiveness, innovation and intangibleinvestment in Europe

Prof. Jonathan HASKEL 26

217247SERVPPIN

The contribution of public and privateservices to European growth and welfare, andthe role of public-private innovation networks

Dr Luis RUBALCABA 28

217622SELUSI

Social entrepreneurs as "lead users" forservice innovation

Ms Marieke HUYSENTRUYT 30

225408

POLHIA

Monetary, fiscal and structural policies with

heterogeneous agents

Prof. Domenico DELLI GATTI 32

225149MONFISPOL

Modelling and implementation of optimalfiscal and monetary policy algorithms inmulti-country econometric models

Prof. Michel JUILLARD 34

217266FINESS

Financial systems, efficiency and stimulationof sustainable growth

Dr Christian DREGER 36

217485VICO

Financing entrepreneurial ventures in Europe :impact on innovation, employment growthand competitiveness

Prof. Philippe MUSTAR 38


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FOREWORD

A major element of the renewed Lisbon strategy is the globalisation issue. Economic structures arechanging in accordance with the differential productivity of sectors and competition within Europe andwith third countries. Economic growth is still the final objective of the Lisbon agenda and knowledgeis confirmed as a main pillar for its achievement. In this context, the "Education Knowledge Innovation" triangle has to be strengthened.

In 2007-2008, the economic component of the European Socio-economic Sciences and Humanities(SSH) research programme attempts, among others, to answer the following questions: How tosucceed in the age of globalisation? What are the impacts of research and innovation on growth andemployment? How does internationalisation affect the localisation of knowledge-intensive activities offirms? What is the overall importance of service industries in European growth? How can theintangible assets be measured? What is the optimal public spending distribution? How is"entrepreneurship" evolving in Europe?

These are some of the issues tackled in this brochure that describes EU projects mostly coming fromthe activity entitled "Growth, employment and competitiveness in a knowledge society". The focus ofthis publication is on the European knowledge society (Lisbon Agenda) but it covers also issuesrelated to policy evaluation and economic governance. This activity builds on existing socio-economicresearch projects from the sixth Framework Programme, of which "EU KLEMS" (a project on

productivity in the EU) is a good example.

In 2007-2008, the European Commission has selected around 40 research projects concerning theknowledge economy. With an average of 7 teams per project and taking into consideration that someteams are involved in different projects, about 250 research organisations of the European and

international socio-economic research community are working in this field.

Three elements characterise European economic research in the seventh Framework Programme:Firstly, the clear orientation to address major societal challenges; Secondly - and it is a major novelty -methods, tools and databases are explicitly recognised as crucial elements to make progress in socio-economic sciences; Thirdly, EU economic research offers fundamental scientific support to European

policies.

Scientific excellence, policy relevance, stocktaking of past and current research, as well asdissemination of research results are guiding principles for EU economic research. The "clusters" ofresearch projects included in this brochure should encourage knowledge cross-fertilization among

European research teams and enlighten EU policy-makers on subjects like the new Lisbon agenda, thefuture EU financial perspectives and the next Research Framework Programme.

- 3 -

Jean-Michel BAER


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The changing nature of internationalization of innovation in Europe: impact on firmsand the implications for innovation policy in the EU

GLOBINN

Proposal: 217296

Estimated EC contribution: 1111983

Starting date: 2008Duration: 30 months

Funding scheme: Collaborative Project (Small- andmedium scale focused research project)

Unit L.2Scientific officer: Marianne [email protected]

Project coordinator:

University of SussexSPRU - Science and Technology Policy ResearchUK - Falmer, Brighton

Contact:

Mr Parimal PATEL

[email protected]

The overall purpose of the GLOBINN project is toimprove our understanding of the changing natureof internationalization of Europes innovationsystems by studying the international knowledgesourcing strategies of European firms and theireffect on performance. The starting premise of the

project is that Europes knowledge resources andits role in the global economy will be increasinglyshaped by the ability of EU firms to sourceknowledge internationally.

Firms can employ three modes ininternationalizing their innovative activities: (a)the global trading of technology based servicesand licensing as firms seek to exploit the globalmarkets for their technologies; (b) internationalcollaborative agreements and strategic alliances asfirms seek out international partners for theirknowledge generating activities; and (c) theinternational dispersal of their own R&D andtechnology creating activities as they seek outnew regions and resources in different parts of theworld.

The GLOBINN project aims to bring together leadingEU scholars involved in studying each of thesemodes largely in isolation to focus on an integratedanalysis.

In the first instance this analysis will map the trends

in the growth of each of these modes with anemphasis on whether internationalization ofinnovation in European firms is an intra EU or extraEU phenomenon.

The second focal point will be the organisational andmanagerial issues which influence the strategies ofEU firms in seeking international sources ofknowledge, and have an impact on their oninnovation and economic performance. Both of theseare essential for analysing the implications fornational and EU-level policies.

Indeed the underlying rationale for the GLOBINNproject is that devising appropriate policies requires adeeper understanding of each of the three modes andthe firms level processes and strategies.


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SCIFI-GLOW

1115634

Collaborative Project (Small- andresearch project)

Marianne [email protected]

Science, innovation, firms and markets in a globalized world

Proposal: 217436

Estimated EC contribution:


Funding scheme:medium scale focused

Unit L.2Scientific officer:


Centre for Economic Policy ResearchUK - London

Contact:

Prof. Mathias [email protected]@cepr.org

In 2000, EU leaders commEurope "the

itted to the objective ofmost dynamic and

y in theth,

er jobs, greater social cohesiont for the environment."

ve this

trategy was based on policies toncourage investment in knowledge. Knowledge

as a public good with potential spillovers is therationale behind intellectual property protectionand subsidies for investments in innovations thatwill potentially lead to high spillovers.

University research that creates basic knowledgeis a leading example of this. But research showsthat spillovers are also generated from privatefirms R&D and that firms can therefore benefitfrom the presence of more innovative and more

productive firms.

But which universities and which firms are moreinnovative?

How does globalization influence the answer to thesequestions? Finally, how can policy influence theinnovation process?

This project aims at answering these questions,without forgetting their implications in terms ofincome inequality and volatility, which impacts onthe political sustainability of the innovationdynamics.

To do this, the first part of the project will focus morespecifically on the knowledge sector itself. Thissecond part of the project will look at the "bigger

picture", looking at the overall organization of firmsin the global knowledge economy, as well as itsimplications on markets and inequality.

The third part will contain a summary and policyrecommendations: while the project brings togetherresearchers at the frontier of academic knowledge onthese topics, its outcomes will be highly policy-relevant.

We plan to end the project with a summary and set ofpolicy conclusions on research and innovation in theglobal knowledge economy.

makingompetitive knowledge-based economc

world, capable of sustainable economic growwith more and bettand respecThey drew up the "Lisbon agenda" to achiegoal by 2010.

Te

he central s


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- 7 -

nstitutions/Partners/Country/Town

L Universitt MnchenDepaDDU ellesEAB

KF icsR

E - Leuven

ntifique

niversiteit MaastrichtTech

ces

conom

R - Toulouse

Science, innovation, firms and markets in a globalized world

SCIFI-GLOW

I

udwig-Maximilians-rtment of Economics

alia MARINE - Munich

niversit Libre de Bruxuropean Centre for Advanced Research in Economics and Sndr SAPIRE - Brussels

tatistics (ECARES)

atholieke Universiteit Leuvenaculty of Economics and Applied Economen BELDERBOS

BLondon School of Economics and Political ScienceCentre for Economic PerformanceChiara CRISCUOLOUK -London

Centre National de la Recherche Sciearis-Jourdan Sciences EconomiquesP

Thierry VERDIER

FR - ParisUMaastricht Economic Research Institute on Innovation andLuc SOETENL - Maastricht

Universidad Carlos III de MadridDepartamento EconomaGeorges SIOTIS

nology (MERIT)

ES - Getafe

Institute of Economics of Hungarian Academy of ScienKroly FAZEKAS

HU - Budapest

Fondation Jean-Jacques Laffont / Toulouse Sciences EMarc IVALDI

iques

F


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- 8 -


Poli ns

contribution: 3576000

te: 2008

RAUDREN

tics, economics and global governance: the European dimensio

PEGGED

Proposal: 217559

Estimated EC

Starting daDuration: 48 months

eme: Large-scale projectFunding sch

Unit L.2

Scientific officer: Philippe [email protected]


University of OxfordDepartment of EconomicsUK - Oxford

Prof. David [email protected]

Contact:

The long-standing US-EU partnership andtional institutions

king down under the impact ofhifting interdependencies and power

al economic governance is at assroads. If a more complex and multi-

erging, interwoven with

forts of uncertain outcome ands unclear how co-operation will be

m.

yet this offers clear pportunities for an alliance between scholars

rs in terms of action.

do so the EU requires a clear

definition of its self-interest, a correspondingly clearsense of purpose and objectives, and the internalcoherence and institutional capacity to exerciseleadership. Now is the time for Europe to project avision of how the global system should evolve, and toact.

The project begins with four research domains:

a) macroeconomic adjustment and governance; b) the integration of markets for finance and

e integration of markets for trade ingoods and services; d) migration and the mobility oflabour.

These are questions where a combined analysis by political scientists and economists is necessary ifworkable and real-world policy solutions are to bedeveloped and prevail.

Ultimately, the legitimacy of global governancedepends on input and representation in the decision-

process of global governance, and on theor policy outcome in terms of growth,

distribution, and compensation for the losers.

dominance of a range of internaSecurity Council, etc.) is(IMF, World Bank,

rapidly breasrelationships.

In this senrucial cro

se, globc

polar world is now em bilateral agreements and a proliferation of investment; c) thregional efdimensions, it iorganised in the future and by whoGlobal economic governance is riddled with

uncertainties,worrisomeo

pushing the bounds in terms of analysis, and EUpolicy entrepreneuEurope must play a major part in the reform and

of global governance mechanisms,makingoutputreinforcement

but in order to


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- 9 -

Institu /Country/Town

CRichard PORTUUniverA rchG DERHILLN

UEuropean Centre for Advanced Research in Economics and Statistics (ECARES)

aola CONCONI

ions

uropean University Institute

Politics, economics and global governance: the European dimensions

PEGGED

tions/Partners

entre for Economic Policy ResearchES

K - London

sity of Amsterdammsterdam School for Social Science Reseaeoffrey UNL - Amsterdam

niversit Libre de Bruxelles

PBE - Brussels

Centre pour la Recherche Economique et ses ApplicatEcole Normale SuprieureDaniel COHENFR - Paris

ERobert Schuman Centre for Advanced Studies

Giancarlo CORSETTIIT Florence

Hei Graduate Institute of International StudiesCharles WYPLOSZCH - Geneva


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Advancin d socialwell-being in Europe

AEGIS

C contribution: 3300000

rge scale project

g knowledge-intensive entrepreneurship and innovation for growth an

Proposal: 225134

Estimated E


e: LaFunding schem

Unit L.2Scientific officer: Marianne PAASI

ec.europa.eumarianne.paasi@


PLANET S.AResearch & Innovation UnitEL - Athens

Contact:

Ms Maria [email protected]

The proposed research project will study theinteractions between knowledge, economic

ial well-being in Europe. It focusesedge-intensive entrepreneurship as a

agent of changege and

nowledge-intensive entrepreneurship iswo

ms: the knowledge generationsystem, on the one hand, and the

roductive system, on the other. Both systemsape and are shaped by the broader social context

including customs, culture, and institutions thus also pointing at the linkage of entrepreneur-ship to that context.

The project has three main objectives (researchthrusts). At the micro level, it purports to study indepth the very act of knowledge-intensiveentrepreneurship, its defining characteristics,

boundaries, scope and incentives.

At the macro level, it will study the link betweenknowledge entrepreneurship, economic growth andsocial well-being, also extending to the socio-economic processes that help transform the animalspirits (John Maynard Keynes) into a self-reinforcing process for broader societal prosperity.

The way the broader socio-economic environmentstokes animal spirits and benefits from them will

be studied within the contexts of various shades ofcapitalism in Europe and elsewhere, expanding

beyond the growth accounting and endogenousgrowth approaches and issues to novel concepts ofknowledge-intensive entrepreneurship in growth and,further, into the underlying issues of social wellbeingsuch as inclusion, cohesion, equity, opportunities,and social care. Finally, at the policy level, the

project will take a systemic approach aiming at an

organic integration of diverse sets of policies thatinfluence the creation and growth of innovativeentrepreneurial ventures based on knowledgegeneration and diffusion.

growth and socon knowlnecessary mechanism and anmediating between the creation of knowled

economic activity.its transformation intoK

perceived here in as a core interface between tinterdependent ysteand diffusion

psh


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Institutions/Partners/Country/Town

U ale Luigi BocconiCESPRIPINational Technical University of AthensS of Industriala

P CALOGHIROUEI vation and TechnologyProf. Maureen MCKELVEY

E - Gothenburg

rof. Charles EDQUIST

-KREINSENE - Dortmund

University College LondonSchool of Slavonic and East European StudiesProf. Slavo RADOSEVICUK London

Unidade de Estudos sobre Complexidade e EconomiaProf. Joo FERREIRA do AMARAL

PT Lisboa

udiesUM

siteit EindhovenVERSPAGEN

xScience and Technology Policy Research (SPRU)Prof. William Edward STEINMUELLERUK Brighton

IIDHCm

CMCNMCTRDDR

ZSPCNCentre for Development StudiesDr. Sunil MANIIN - Trivandrum

Centre for Social and Economic Research (CASE)Mr. Sebastien LECLEFPL Warsaw

Advancing knowledge-intensive entrepreneurship and innovation for growth and socialwell-being in Europe

AEGIS

niversit Commerci

rof. Franco MALERBAT - Milan

chool of Chemical Engineering, Laboratoryd Energy Economicsn

rof. YannisL Athens

nstitute for Management of Inno

SMax Planck Society for The Advancement of ScienceEvolutionary Economics GroupProf. Ulrich WITTDE - Munich

Lunds Universitet

CIRCLEPSE Lund

Universiteit UtrechtUrban and Regional Research CentreDr. Koen FRENKENNL Utrecht

Technische Universitt DortmundFaculty of Economics and Social SciencesProf. Hartmut HIRSCHD

Universit Louis PasteurBureau d'Economie Thorique et AppliqueProf. Patrick LLERENAFR Strasbourg

Aalborg UniversityDepartment of Business StProf. Bent DALDK - Aalborg

Technicsche UniverProf. BartNL Eindhoven

University of Susse

nstitute of Economics - Hungarian Academy of Sciencesnstitute of Economicsr. Attila HAVASU Budapest

entrum ekonomickych studii Vysoke skoly ekonomie aanagementu

entre for Economic Studiess. Anna KADERABKOVAZ Usti nad Labem

ational Competitiveness Councilrs. Mira LENARDICR Zagreb

he Finance Academy under the Government of theussian Federationepartment of Economic Theoryr. Andrei YUDANOVU Moscow

hejiang Universitychool of Managementrof. Xiaobo WU

Hangzhou


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INGINEUS

225368

ted EC contribution: 2600000

42 months

OSSETTI di VALDALBERO

Impact of networks, globalisation, and their interaction with EU strategies

Proposal:

Estima

date: 2008StartingDuration:

Funding scheme: Large scale project

Unit L.2

Scientific officer:Domenico [email protected]

Project coo

F iI

Contact:

Da .it

rdinator:

ondazione Eni Enrico MatteT - Milano

r Alireza NAGHAVIunimorelireza.naghavi@

INGINEUS addresses the evolution of global

and the impact thisglobal capitalism has on

tensive activities in the EU.

d assembly arrangements havethree decades. They wereciency considerations.

s (MNCs) outsourcedprocesses to manufacturers in

s around thening the most knowledge

ts in the home country.

ncreasinglyright mix

m to tap into

arts of value chains. This is notomies but more and moreveloping

themselves as attractivesive locations in their own right.

lications both for the EU and itscountries in the developing world.

r knowledge-intensive parts.

evolving local capabilitiesthat allow them to

omplex parts of global valuemuch higher levels of technological

sophistication than hitherto.

uences of the formationomy and differentiates

d dynamic effects on growth,

petitiveness in the EU.

ese insights, it derives policys that would allow the EU to benefit

itive features of this process whilemitigating its adverse consequences.

production networks (GPNs) into globalinnovation networks (GINs),new process ofknowledge in

Global sourcing an been around for some principally based on effi

hus, multinational firmTparts of productionAsia and other low-cost locationglobe, while retaiintensive asseThis is no longer the case. MNCs i

re thescout the globe for locations wheetences allows theof local comp

phisticated psolimited to advanced econinvolves firms and regions in selected decountries that positionknowledge-inten

INGINEUS studies the determinants of this processand analyses its impemerging partnerFirst, it looks at the changing strategies of MNCs andthe conditions under which it is favourable for them

to offshore R&D and otheof their production processSecond, it focuses on thein selected developing countriesclaim increasingly cchains at

Third, it analyses the conseqal econof GINs in the glob

static anamong their

employment, and comFinally, based on threcommendationfrom the pos


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- 13 -


Cent to e Planejamento Regional man Sciences Research CouncilD E ALBUQUERQUE cation, Science and Skills DevelopmentB . Jo LORENTZEN

G f ScienceP LIU a

C Gordon Institute of Business Science (GIBS)Dr. Helena BARNARDC ZA PretoriaCP . Susana BORRAS University of Lund

K - Frederiksberg Centre for Innovation, Research and Competence

entre

echnology

tdanning Senter for innovasjonsforskningDr. Heidi WIIG ASLESENNO Oslo

Impact of networks, globalisation, and their interaction with EU strategies

INGINEUS

tions/Partners

ro de Desenvolvimenr. Eduardo DA MOTTA

HuEdu

R - Belo Horizonte DrZA Pretoria

raduate University, Chinese Academy orof. Xielin University of Pretori

N - Beijing

openhagen Business Schoolnter for Business and Politicse

rofD

in the Learning Economy (CIRCLE)Cristina CHAMINADESE - LundInstitute of Baltic Studies

Mr. Marek TIITSEE - Tartu University of Sussex

Prof. Nick VON TUNZELMANNUK Brighton

OECD Development C

German Development Institute

Dr. Andreas STAMMDE Bonn

Centre for Development StudiesProf. Kj JOSEPHIN - Kerala

International Institute of Information T

Mr. Andrea GOLDSTEINFR Paris

Prof. Parthasarathy BALAJIIN Bangalore

Centro Studi Luca d'AglianoGiorgio BARBA NAVARETTIIT Torino

Stiftelsen Norsk Institutt for studier av forskning ogu


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- 14 -


Eur ess


ths

fficer:RO

[email protected]

opean firms in a global economy: internal policies for external competitiven

EFIGE

225551Proposal:

Starting date: 2008Duration: 48 mon

Funding scheme: Large scale project

Unit L.2

Scientific oDomenico ROSSETTI di VALDALBEdomenico.rossetti-di-valdalbe


BRUEGELB

C

Prof. Gianma ANOg

E - Brussels

ontact:

rco [email protected]

The chances of European countries to grow,rosper and provide well being to their citizens

their firms to becomers and producers in foreign

thin and outside the EU.

the pattern ofon defining adequate and effective

the broad factorsenhancing companies' foreign

like growth in size and productivity; pe of ownership and corporate governance;

e

by combining theoretical andmic

athering of new data.

The m project are:ean firms that

succes ete in international markets?To what extent do they contribute to productivity and

Does m

perform a learning process?Why e successful ininterna

at can improve a nationsforeign trade performance?Does integration within the Single Market foster

productivity improvements?Has the euro led to a wider participation of firms incross-border business?What policies can promote the participation of otherEuropean firms that are currently excluded frominternational markets?

What are the gains and the adjustments involved inreducing barriers to trade and foreign directinvestment (FDI)?What policies can best maximise gains and smoothadjustments?

prest on the ability ofsuccessful trademarkets wi

aminesThis project exlisation of European firms. With ainternationalear focusc

policy measures, it looks atconstraining oroperations,tyaccess to financial markets; innovation; th

nt.macroeconomic environmeIt will do soempirical research at the frontier of the acade

and policy debate with the gthrough a cross country survey

ain questions addressed by theWhat are the features of Europ

sfully comp

employment?access to f

ance through

oreign market enhance fir

are some countries mortional trade and FDI?

What are the policies th


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U I de MadridDepa aPES - GetaC Recherche sur l'Economie MoPF

C olicy ResearchPUI STITUTE OF ECONOMICS, Hungarian Academy of Sciences

r. Laszlo HALPERN

European firms in a global economy: internal policies for external competitiveness

EFIGE

niversidad Carlos IIrtamento de Econom

rof. Klaus DESMETfe

entre d'Information et de ndialerof. Lionel FONTAGNE

ParisR

entre for Economic Prof. Mayer THIERRYK - London

NDHU - Budapest

Institut fr Angewandte Wirtschaftsforschung e.V.Prof. M.Claudia BUCHDE Tubingen

Centro Studi Luca d'Agliano

Prof. Giorgio BARBA NAVARETTIIT Torino

UniCredit S.p.A.Ms. Enrica Elena BELLIIT Roma


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ribution: 4000000

e: 2008

e scale project

Unit L.2

eu

World input-output database: construction and applications

WIOD

Proposal: 225281

Estimated EC cont

Starting datDuration: 36 months

scheme: LargFunding

Scientific officer: Ian [email protected].


Rijksuniversiteit GroningenNL - Groningen

ct:

Prof. Erik [email protected]

Conta

How has the increase in Chinese exports of textileted the employment of low skilled

bal CO2 emissions?

ental policies are

industries andhile production is characterized by anterdependent structure. Due to globalization,

dencies cross borders and theential.

policy issues therefore requires an allncompassing database. Its construction is at theeart of this project and the following three

aspects are crucial.

a) Input-output (IO) tables provide a descriptionof the interdependent production structure. Taking

the reach of internationalization into full -consideration requires a worldwide set of nationalIO tables (covering at least 80% of world GDP)that are fully linked through bilateral trade data.

b) Taking the dynamics of internationalization intoaccount requires a time series (1995-2006) of suchlinked IO tables, in current and constant international

prices.

c) Taking the effects of internationalization intoconsideration requires that other relevant information

is appended. These so-called satellite accountsinclude labor data for different skill types, investmentflows, and environmental and resources data.

The first part of the project constructs such a uniquedatabase. The second part of the project applies thedatabase to analyze the international interaction ofsocio-economic and environmental objectives from a

policy perspective. These are applications that use thedatabase by directly employing IO and econometrictechniques, and applications that use large-scalemodels that employ the database.

The project builds on several previous, EU-sponsored projects and is carried out by Europes leadingexperts in IO theory, data construction, interindustrymodels, and policy applications.

products affecworkers in German retail trade? What would be

e in the European Unionsthe effects of a changlicy on gloagricultural po

Economic and environm

designed at a detailed level ofproducts, winthese interdepeninclusion of trade is more than ever essAnalyzingeh


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I ive Technological Studies (IPTS)European Com nt Research Center MES - SevT International Economic StudiesDA

Z aftsforschung GmbH (ZEW)DD

ustrian Institute of Economic Research

chaft u

ent

S)

World input-output database: construction and applications

WIOD

nstitute for Prospectmission - Joi

r. Peter KINDilla

he Vienna Institute forr. Robert STEHRERT Vienna

entrum fr Europische Wirtschr. Andreas LSCHEL- MannheimE

ADr. Kurt KRATENAAT - Vienna

Hochschule Konstanz, Hochschule fr Technik, WirtsProf. Joerg BEUTEL

E Konstanz

nd Gestaltung

DThe Conference Board Europe

Mr. Andrew TANKBE Brussels

Organisation for Economic Co-operation and DevelopmMr. Norihiko YAMANOFR Paris

Netherlands Bureau for Economic Policy Analysis (CPMr. Paul VEENENDAALNL The Hague

Institute of Communication and Computer SystemsProf. Pantelis CAPROS

EL Athens

Centrale Recherche SAProf. Paul ZAGAME

R ParisF


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Iempirical models and policy analyses

INNOS&T


heme: Collaborative Project (Small- andmedium scale focused research project)

Ian [email protected]

nnovative S&T indicators combining patent data and surveys:

Proposal: 217299

ECEstimated

Starting date: 2008sDuration: 36 month

Funding sc

Unit L.2Scientific officer:


Universit Commerciale Luigi BocconiIEGIIT - Milan

Contact:

occoni.it

Prof. Alfonso GAMBARDELLA

agambardella@unib

his projectT aims to develop and collect novel

hese indicators will be used in empirical modelsEuropean, national

s on the following four topics:use of patents, i.e. unused patents

, education and mobility of inventors;

carry out the following four setsf activities aimed at the creation of new

ill carry out a new survey dataI, which will build on thesurvey of inventors. The

nterview inventors of aboutntries and

ill ask questions about the inventors, thevention process, the motivations to patent, the

se and the value of the patent, the links betweenience and patented inventions.

Second, we will carry out two complementary surveys in US and Japon, PatVal-US and

the questionnaire developed forEuropean inventors.

Third, the project will develop indicators for

industry-science links based on patent citations toscience for all OECD countries, over time, acrossindustries, by firms and by firms to universities and

public research institutions. These indicators will bevalidated through the results of the PatVal-EU IIsurvey.

Fourth, we will build complementary indicators at thelevel of patents (citations, oppositions, etc.),inventors, companies, regions, sectors, that will beintegrated with the survey data.

The resulting integrated datasets will be used inempirical models and policy assessments on the fourtopics of this project. In particular, the project willdevelop adequate empirical methods that takesimultaneously into account a variety of factorsaffecting the impact of policies.

science and technology indicators coveringe United States.

data collectionPatVal-JP, by usingEurope, Japan and th

Tthat can contribute to improve

and regional policiea) Economicand strategic patents, licensing, entrepreneurship;

linkages and innovation b) Science-industryce;performan

) Gendercd) Economic value of patents.

The project willoindicators.

First, we wcollection, PatVal-EU I

I previous PatVal-EUy will inew surve

0,000 EPO patents in 20 European cou3winusc


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LI Technology Management aDDKD y and InnovatioB OOYBUB siness School (IESE)

epartment General Management

Innovative S&T indicators combining patent data and surveys:empirical models and policy analyses

INNOS&T

tions/Partners

udwig-Maximilians-Universitt Mnchennstitute for Innovation Research,ietmar HARHOFF

nd Entrepreneurship (Inno-Tec)

E - Munich

atholieke Universiteit Leuvenepartment of Managerial Economics, Strateg n (MSI)art VAN LE - Leuven

niversidad de Navarrau

DBruno CASSIMANES - Barcelona


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DEM


heme: Collaborative Project (Small- andproject)

:OSSETTI di VALDALBERO

[email protected]

Development of methods and tools for evaluation of research

ETER

Proposal: 217397

Starting date: 2008thsDuration: 36 mon

Funding scmedium scale focused research

Unit L.2Scientific officerDomenico Rdomenico.rossetti-di-val


Centrale Recherche SALaboratoire Erasme

Contact:

Prof. Paul [email protected]

FR - Paris

danielle.

The Lisbon Agenda of increasing competitivenessountries by the knowledge has

cussed attention on RTD and education policies.

he evaluation of such policies is in the state ofe art very difficult; if there exist quantifications

f RTD increase on economic performance at arm or sectoral level, the assessment of sucherformance on a whole community or a group ofountries is less frequent; the link between RTDnd economic performance has, during the lastecades,changed a lot, rising a doubt on thermer estimations:for instance the knowledgeillovers between countries linked to RTD hascreased, the services activities linked to RTD ascreased also much and then the measurement ofTD did change in significance.

he importance of other forms of intangibleapital (Human, ICT, Organisational capital)as modified the link between RTD andnovation.

he overall objective of this proposal is to build astem of tools based on applied modelling that

can be used for the ex ante evaluation of research andinnovation policies at sectoral and European level.

The method of the project will be a wide scope one.It will be based on micro, meso and macroeconomics,in order to give deep insight on the RTD

incentives and the RTD performance. It will begrounded on Scientific and Technique and Innovation(STI) indicators and new databases that take intoaccount all the activities related to RTD (and not onlyRTD expenses), the knowledge spillovers betweenactivities and countries and also other forms ofintangible capital.

These insights will be used to modify the production block and demand of the two large scale detailedeconomic coverage models that have a good trackrecord: the econometric model NEMESIS and the

general equilibrium one GEM-E3 that will producemacro and detailed indicators in order to assess RTDand innovation policies in terms of STI indicators,competitiveness, growth, employment, budgetdeficits, welfare, environment, sustainabledevelopment.

of European cfoTth

ofi

pcadfospininR

TchinTsy


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- 21 -


UUNLNIE boratory (E3MlPantelis CAPROS

EFFBE - Brussels

Development of methods and tools for evaluation of research

DEMETER

tions/Partners

niversiteit MaastrichtU-MERIT

uc SOETEL - Maastricht

nstitute of Communication and Computer Systemsnergy-Economy-Environment Modelling La ab)

L - Athens

ederal Planning Bureaurancis BOSSIER

Katholieke Universiteit LeuvenCenter Economic StudiesDenise VAN REGEMORTER

E - LeuvenBEcole Polytechnique Fdrale de LausanneCEMI-CDM

Dominique FORAYCH - Lausanne


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- 22 -


Intangi he EU

INNODRIVE

ution: 1496523

te: 2008onths

d

fficer: Marianne PAASIa.eu

ble capital and innovations: drivers of growth and location in t

Proposal: 214576

Estimated EC contrib

Starting daDuration: 36 m

Funding scheme: Collaborative Project (Small- anmedium scale focused research project)

Unit L2Scientific [email protected]


University of VaasaDepartment of EconomicsFI - Vaasa

Contact:

f. Hannu [email protected]

Pro

It is widely recognised that intellectual assets aregeneration of

cement ofmpetitiveness of the

ged in the Lisbon process.knowledge of the contribution of

tangibles to economic performance is stillcomplete.

hile firms undoubtedly are at the centre ofnovation and productivity growth, their

ctivities are hard to analyse empirically.

urthermore, at the macro-level the nationalccounts data on capital formation focus primarilyn fixed investment and have only recently

ttempted to measure investment in intangiblesch as software, mineral exploration and artistic

reations.

he aim of this research project is to reduce ournorance by providing new data on intangibles

nd new estimates of the capacity of intangibleapital to generate growth.

We envisage doing this both at firm-level and atnational level. At the micro-level the present projectwill improve our insight into the contributions ofintangibles to the growth of firms by exploiting the

potential of recently established linked employer-employee datasets and implementing a performance

based methodology to analyse how firms use

knowledge and human capital to increase their productivity and how mobile workers react to theseprocesses.

At the national-economy level we will expand thetraditional growth accounting framework byincluding, in capital formation, estimates of theinvestment in intangibles which, hitherto, have beencounted as current expenditure in the conventionalnational accounts.

This research will thus explore hitherto uncharted

territories in EU socio-economic research.

This research project will deliver new foundations forthe formulation of policies to strengthen growth andemployment in the EU by providing new beyond-the-state-of-the-art estimates of intangiblescontribution to economic performance.

major determinants of theinnovation and thus in the enhangrowth, employment and coEU.

nce of R&D and innovation is alsoThe importa

explicitly acknowledHowever, ourininWinaFao

asucTigac


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- 23 -


CSally SCOTTBDeutschesIKD

S )RTorbjorn HAEGELAND

- Oslo

MAJCEN

s Ry.

ibera Universit Internazionale degli Studi Sociali Guido C

Intangible capital and innovations: drivers of growth and location in the EU

INNODRIVE

tions/Partners

entre for European Policy Studies

E - Brussels

Institut fr Wirtschaftsforschungnnovation, Manufacturing, Serviceurt GEPPERTE - Berlin

tatistisk Sentralbyr (Statistics Norwayesearch Department

NONational Institute of Economic and Social ResearchGill CLISHAMUK - London

Intitut Za Ekonomska RaziskovanjaorisB

SI - Ljubljana

Elinkeinoelmn Tutkimuslaitoksen KannatusyhdistyLabour Market and Education Research UnitSami NAPARIFI - Helsinki

Economics InstituteStepan JURAJDACZ Prague

L arliEconomics & Business DepartmentStefano MANZOCCHIIT - Rome


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- 25 -


U di Cagliari/CiremNo Research Centre (Crenos)RIT -

C onomiques de l'Universit de SaiCCF

D ngMCDE - Berlin

ess an

enstitute of Regional and Environmental Economy

niversity of Hannoverstitute of Economic and Cultural Geographyvier REVILLA DIEZE - Hannover

Intangible assets and regional economic growth

IAREG

I

niversit degli Studirth South Economic

affaele PACICagliari

entre de Recherches Ec nt-Etiennereusetorinne AUTANT-BERNARDR Saint-Etienne

eutsches Institut fr Wirtschaftsforschuacro Analysis and Forecastinghristian DREGER

University of PcsCenter for Research in Economic Policy, Faculty of BusinAttila VARGAHU - Pcs

Max Planck Institute of EconomicsEntrepreneuship, Growth and Public Policy Group

avid Bruce AUDRETSCH

d Economics

D

DE - MunichTampereen YliopistoHannele AUFFERMANNFI - Tampere

Wirtschaftsuniversitt WiInEdward M. BERGMANAT - Vienna

University of SussexScience and Technology Policy Research (SPRU)Simona IAMMARINO

UK Falmer, Brighton

University Of TartuFaculty of Economics and Business AdministrationMaaja VADIEE - Tartu

UInJaD


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- 26 -


Competi Europe

COINVEST


e: 2008

ive Project (Small- and

pa.eu

tiveness, innovation and intangible investment in

Proposal: 217512

Estimated EC

Starting datDuration: 24 months

Funding scheme: Collaboratused research project)medium scale foc

Unit L.2Scientific officer: Ian [email protected]


Queen Mary and Westfield CollegeDepartment of Economics

n

Contact:

Prof. Jonathan [email protected]

UK - Londo

We aim to understand the contributions ofnvestments to innovation,

Given the iswill make a considerable contributintangible i

enescompetitiv s, growth and productivity inurope.

licynderstanding of some

rucial questions facing EU economic

is simple. Currently, (almost all)easured, or

sofor

n practice, most knowledge, the

o make the EU the most

ynamic knowledge-drivenur italics). Thus we are in

jor

sues importance, we believe our workion.

Some knowledge investment is counted as such in thekey economic measures such as GDP (e.g. software).However, R&D and other knowledge investment(like investment in human capital via training,

investment in reputation capital, investment inorganisational capital etc) are all treated as day-to-day expenses, not investment.

Thus, under current conventions, investment andGDP in an economy whose businesses spend 1 moreon almost all knowledge investment is the same as aneconomy whose businesses turn up their air-conditioning.

Therefore, we have put together a small-scale butfocused team comprising some of Europes (and the

worlds) leading experts on these questions, spanningbusiness, policy and measurement interests.

The project will collect data on a wide range ofknowledge investment, at macro and micro levels,incorporate these into macro and micro performancemeasures and thus greatly improve our understandingof knowledge-driven economies and firms and

policy.

ESuch a project is, we feel, vital to help EU poformation and deepen our u

of the most cpolicy.

The reasonintangible investments are either not mtreated as an intermediate input into production

duce no durable assetsthey are assumed to pronomies.firms or eco

Does this matter? Iinvestments involve intangible spending. AndLisbon agenda aims t

competitive and deconomy by 2010 (othe difficult position of having perhaps the ma

iration backed by almost no data orEU policy aspmeasures.

This project will set out a method and collect thedata required.


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- 28 -


The con elfare,and the role of public-p orks

SERVPPIN

80141

2008onths

rative Project (Small- and

fficer:BERO

[email protected]

tribution of public and private services to European growth and wrivate innovation netw

Proposal: 217247


Starting date:6 mDuration: 3

Funding scheme: Collabomedium scale focused research project)

Unit L.2Scientific oDomenico ROSSETTI di VALDALdomenico.rossetti-di-


Universidad de AlcalDepartemento de Economa AplicadaFacultad de Econmicas y EmpresarialesES - Alcal de Henares

Contact:

Dr Luis RUBALCABA

[email protected]

Services are the domes and

inant economic sector inare a crucial component of

trategy and welfare in Europe.

is

t worst it produces a false understanding of the

ct addresses this problem by public and private services, and their

pact on growth and welfare.

In particular, it focuses on service innovation andon public-private innovation networks becausethese are an important organizational mode for

developing, producing, and delivering new andimproved services.

They work by establishing and enhancingcomplementarities and synergies between publicand private organizations.

The research objectives of the project are:

a) Identifying and understanding the linksbetween public and private services and economicgrowth and welfare.

b) Understanding service innovation and how public-private sector interactions function, and how they canbe better managed to increase performance.

Understanding the characteristics of successfullic-private service networks which have a high

impact on growth and welfare.The achievement of these objectives will beundertaken by theoretical and empirical research thatis cross-country and cross-sector.

This will be supported by in-depth case studiescovering major service types: health, transport, andknowledge intensive services.

The expected outputs of the project are thedevelopment of new knowledge/ improved scientific

understanding of services, improved policy prescriptions, and the dissemination of this newknowledge to business leaders and policy makers. Inorder to diffuse knowledge effectively, the projecthas set up a stakeholder

International Expert Reference Group that comprisesenterprises, professional associations and publicinstitutions.

The aim is to affect policy in services, including EUpolicies.

modern economieness scompetitiv

In the pastpublic and private services have been c)

pubstudied in isolation of one another. At best this

misleading.

Adrivers, dynamics, and impact of services.

The Servnalyzing

PPIN projeaim


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- 29 -

I ers/Country/Town

AD ch, Dep. of Technology PolicyMARC chnologiesJ O

DUFFaz GALLOUJ

R Villeneuve d'Ascq

E - Bremen

N

entre for Public Policy Innovation

ns

conmicas y Empresariales-Departamentanuel GARCIA-GOI

U Budapest

The contribution of public and private services to European growth and welfare,and the role of public-private innovation networks

SERVPPIN

nstitutions/Partn

ustrian Research Centers Gmbh ARCivision Systems Researatthias WEBERT - Vienna

oskilde Universityommunication, Business and Information Te

on SUNDB

K - Roskilde

niversit des Sciences et Technologies de Lilleaculty of Economics and Sociology

FUniversity of BremenEconomics DepartmentAndreas PYKADUniversiteit UtrechtUrban and Regional Research Centre

oen FRENKEKNL - Utrecht

Lillehammer University CollegeCRolf RNNINGNO - Lillehammer

niverza V LjubljaniUFaculty of Social Sciences-Centre of International RelatioMetka STARESI Ljubljana

Universidad Complutense de MadridFacultad de Ciencias E o de Economa Aplicada IIMES Madrid

The Manchester Metropolitan Universityusiness SchoolB

Paul WINDRUMUK Manchester

Kopint-Trki Konjonktrakutat Zrt.Economic Research Instituteva PALCZ

H


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- 30 -


0840 months

icer:

ec.europa.eu

Social entrepreneurs as "lead users" for service innovation

SELUSI

Proposal: 217622


Starting date: 20Duration:

Funding scheme: Collaborative Project (Small- andmedium scale focused research project)

Unit L2Scientific offDomenico ROSSETTI di VALDALBEROdomenico.rossetti-di-valdalbero@


The London School of Economics andPolitical ScienceMPA Programme Public and Economic PolicyUK - London

Contact:

Ms Marieke HUYSENTRUYT

[email protected]

Companies that dont innovate lose their

rtainty companies in an increasinglyent face, and

the 2005 re-

ut how should a Philips, IMEC or say a leadingknowledge-basedction?

bring forward emerging socialerful, yet so far untapped

nd will advance a concrete strategyanies can access and leverage this

telligence in their service innovation processes.

f 800 emerging socials based in Western as well as Central

us to systematically dissect theon of social entrepreneurship

long a number of dimensions, including financial

contracting, competitive strategy and organizationaldesign.

As we better understand who social entrepreneurs inEurope are and how they evolve over time, we canstart to address more effectively how their

intelligence can be optimally mobilized to accelerateservice innovation.

We will pilot-test at least one concrete, newinnovation strategy (match-making model) through aseries of action-orientated workshops that willinvolve academics, social entrepreneurs and leadingcompanies.

Finally, through our unique blend of fundamental andapplied research, we will be able to formulate public

policy initiatives in the following four domains: a)al entrepreneurship both at

te levels, b) that of serviceinnovation and competitiveness particularly at the EUlevel, c) areas of both emerging socialentrepreneurship and services innovation in Europeanwelfare states versus emerging market economies,and d) our SELUSI-Innovation Strategy at theglobal level.

competitive edge.

This is one cecompetitive, complex environmwhich is further driven home by

on Strategy.launch of the LisbBcompany in high-tech orservices innovate their service funThis project willentrepreneurs as a powsource of external intelligence, ideas andtechnologies, afor how compinTo do so, we will first rigorously analyse the

the area of emerging socithe EU and member sta

founding dntrepreneur

ecisions oeand Eastern European countries.

This will allowrising phenomena


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- 31 -


KKoeBSSTS olm

UIJES - Barcelona

ent

Social entrepreneurs as "lead users" for service innovation

SELUSI

tions/Partners

atholieke Universiteit Leuvennraad DEBACKERE

E - Leuven

tiftelsen stekonomiska Institutettockholm Institute of Transition Economicsorbjorn BECKERE - Stockh

niversity of NavarraESE Business Schoolohanna MAIR

The Hub Collective LtdJonathan ROBINSON

K - LondonUNonprofit Enterprise and Self-Sustainability TeamNESST ConsultingLoic COMOLLI

HU - Budapest

I-Propeller CvbaJohan MOYERSOENBE - Dilbeek

Global InstituteJody ONOUS Washington DC

Advisor

Social Enterprise InitiativeHarvard Business School and Kennedy School of GovernmHerman B. LEONARDUS - Boston


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- 32 -


Mo ts

tion: 1330000

Starting date: 2008

(Small- andarch project)

minik SOBCZAK.europa.eu

netary, fiscal and structural policies with heterogeneous agen

POLHIA

Proposal: 225408

Estimated EC contribu

Duration: 36 months

: Collaborative ProjectFunding schememedium scale focused rese

Unit L2oScientific officer: D

[email protected]


Universit Cattolica del Sacro CuoreDepartment of EconomicsIT Milano

Contact:

Prof. Domenico DELLI GATTI

[email protected]

It is almost a commonplace that macro-economicll conducted, are a stability-enhancing

-

tors - firms and households -

ng run growth by means ofving/investment decisions. In this view aggregate

improved upon by means ofstructural policies such as

oduct market deregulation, investment

economic policies, however, istance, monetary policy affects

usiness fluctuations and growth through financialhich are certainly no less important thans the sub-prime crisis has emphasized.

cro-economic/structuralolicies in an heterogeneous agents setting. Modern

macro-economic thinking goes beyond theRepresentative Agent assumption because agentsare indeed different - in terms for e.g. of real andfinancial conditions, labour market status, technicalcapabilities, expectations, market power - and thisheterogeneity is crucial for macro-economic

outcomes.

Monetary and fiscal policies affect in different waysdifferent people just as structural policies do.Structural policies, in turn, can have macro-economic consequences through externalities.Hence macro and micro policies are strictly

intertwined: they can reinforce (or interfere with)each other.

The research group will exploit a wide range oftools. At the level of model building thedevelopment of macro-economic frameworks in the

New Keynesian tradition will be paralleled andcomplemented by the use of Agent based models,which are appropriate for the exploration ofheterogeneous agents environments. Empiricalresearch will be carried out by means ofeconometric models and experiments to study, forinstance, the formation of expectations.

POLHIA aims at providing new insights for theimplementation of both macro-economic policiesand structural policies and for rethinking policycoordination or coherence, which emerges first

between monetary and fiscal policies and secondbetween micro and macro policies.

The dissemination of results to policy-makers will be mostly oriented towards central bankers and

European and national officials in charge of fiscaland structural policies.

policies, if wedevice. By providing a non-inflationary environ

order the backstage of a moviement, they keep inacin which the

determine losaoutcomes can bemicro-economic orlabour and prin human capital, etc.

The scope of macro-uch wider. For insm

bfactors winflation, aPOLHIA aims at exploring the role of macro-

his wider sense and the nexuseconomic policies in tof macro-economic and mi

p


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- 34 -

d economy and macro-economic policiesIntangible investments, service-oriente

Modelli hms inmulti-country econometric models

MONFISPOL

ntribution: 1350000

ale focused research project)

europa.eu

ng and implementation of optimal fiscal and monetary policy algorit

Proposal: 225149

coEstimated EC


Funding scheme: Collaborative Project (Small- andmedium sc

Unit L2Scientific officer: Dominik SOBCZAKdominik.sobczak@ec.


Centre pour la recherche conomique et sesapplications (CEPREMAP)Dynare TeamFR - Paris

Contact:

Prof. Michel [email protected]

e evaluation ofcy by advancing the analysis of

scal and monetary policy in monetarynion such as the European one.

in the addition of newspecially designed for the

of optimal policy in large macro-econometric models. Such multi-country models arenecessary to take into account the diversity of thecountries making now the European Union.

These new tools for the computation of optimalpolicy will be added to DYNARE, a public domain platform for the simulation and estimation ofdynamic stochastic general equilibrium models(DSGE) that is increasingly used in policy making

institution and in academic research alike. New models are proposed to analyze thecontribution of optimal policy to smooth shocks in aunion of heterogeneous countries with rigidities inlabour and financial markets. In that framework,special attention is given to the dynamics of publicdebt.

Systematic models comparison is made possiblethanks to a database of macroeconomic modelscurrently in use in policy making institutions aroundthe world. New numerical tools are added toDYNARE that provide the computation of optimal

policy, either under commitment, in a timeless perspective or under discretion, for a general classof nonlinear models.

Particular attention is given to correct linearquadratic approximation of these models.Extensions are proposed to deal with partialinformation.

These tools shall also permit to perform Bayesianestimation of models under the assumption that the

policies followed were optimal. Special emphasis is

placed on the definition of priors. Given thecomplexity of the numerical computations, we stressspeed of computation and the development of

parallel algorithms. Altogether, this project shouldrepresent a very significant step forward towards

better models and better tools for the formulation ofmacroeconomic policies.

This project contributes to thmacroeconomic polioptimal fiuThis work will resultnumerical tools,computation


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- 35 -


L UniversityBJUC stigaciones CientficasIA

EC y of FrankfurtCVolDE Frankfurt

SC)

- Ispra

Modelling and implementation of optimal fiscal and monetary policy algorithms inmulti-country econometric models

MONFISPOL

ondon Metropolitanusiness School

oseph PEARLMANK London

onsejo Superior de Invenstituto de Anlisis Econmicolbert MARCET

MadridS

entre for Financial Studies at the Universitentre for Financial Studies

ker WIELAND

Institute for the Protection and Security of the Citizen (IPEuropean Commission Joint Research CentreEuro-area Economy Modelling CentreRiccardo GIRARDIIT


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FINESS

98171

84 months

ll- and

fficer: Dominik SOBCZAK

Financial systems, efficiency and stimulation of sustainable growth

Proposal: 217266


Starting date: 200Duration: 2

Funding scheme: Collaborative Project (Smah project)medium scale focused researc

Unit L.2Scientific [email protected]


Deutsches Institut fr WirtschafsforschungMacro Analysis and ForecastingDE - Berlin

Contact:

Dr Christian [email protected]

The main purpose of FINESS is to get a clear

petiti- paths of the

aw policy relevant

Several main breakthroughs will be achievedthroughout the project.

On the macroeconomic level, the role of financialsystems and their transmission channels ongrowth will be explored by innovative and tailormade econometric techniques, taken dynamicinteractions between financial, product and labourmarkets into account.

A range of indicators to measure the degree of

financial integration will be constructed, and theirdevelopment in time will be addressed.

Moreover, insights into the working of financialinstitutions will be provided for themicroeconomic level.

The comparative approach undertaken by FINESS isuseful to uncover catalysts and bottlenecks

the architecture of financial systems.

By investigating unique datasets, the role of thefinancial structure, i.e., the banking sector, marketsfor private equity and venture capital, for improving

efficiency and sustainable expansion of start ups andestablished firms is studied.

The impacts of different degrees of financialintegration on the portfolio decisions of householdsare explored with simulation models.

Topics specifically related to the transition period ofthe New Member States as well as the genderdimension in turning impulses from the financialsystem into efficiency and growth are covered by the

project.

By fulfilling its goals, FINESS will provide in-depthknowledge on the relationship between financialsystems and sustainable economic growth in achanging environment.

understanding of the implications of ongoingfinancial market integration in Europe on

especiallyin

economic growth, employment ay likely future

nd comveness, to identif

ent and to drdevelopmconclusions.


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- 38 -


Femployment grow

VICO

ibution: 1491463

ate: 2008Duration: 36 months

borative Project (Small- andfocused research project)

K

inancing entrepreneurial ventures in Europe: impact on innovation,th and competitiveness

Proposal: 217485

Estimated EC contr

Starting d

ollaFunding scheme: Cmedium scaleUnit L.2Scientific officer: Dominik [email protected] philippe.m

ct coordinator:

Ecole Nationale Suprieure des Mines de ParisCentre de Sociologie de l'InnovationAssociation pour la Recherche et le Dveloppementdes Mthodes et Processus IndustrielsFR - Paris

Contact:Prof. Philippe MUSTAR

[email protected]

Proje

The aim of the VICO primpact of Ventur

oject is to assess theCapital and Private Equity

ic performanceentrepreneurial venturestheir innovation output,

veness, and

heseresource and competence gap

vision of financing.

of VC/PE investors in Europe.

both theinancing, at

l. In particular, we willnalyze how the effects of VC/PE financing on

the economic performance of portfolio companiesare moderated by i) the characteristics of theinvestor, ii) the characteristics of invested firms,and iii) the characteristics of the business andinstitutional environment in which firms operate.

In addition, we will examine specific open issuesthat play a crucial role for the development of the

VC/PE sector in Europe, namely: a) the design of amix of multi-level policy schemes targeting seed and

pre-seed capital; b) exit mechanisms for VC/PEinvestors; and c) the European integration of theVC/PE sector and the internationalization of VC/PEinvestors.

The project will benefit from a unique combinationof qualitative (survey analyses and case studies) andquantitative empirical methodologies.

As to these latter, the project will build and use amicro and macro cross-country panel type datasetwith a rather long longitudinal dimension and widecoverage of EU countries so as to overcome some ofthe key weaknesses of the extant empirical literature.

The consortium is a blend of well known scientistsfrom different disciplines (i.e. finance, innovationeconomics, entrepreneurship, management, policyscience).

Several of them have already collaborated in EU promoted research projects (such as the VCFUN project promoted by the PRIME Network ofExcellence).

e(VC/PE) financing on the econom

an innovativeof Europes they are reflected bya

employment, growth, and competiti

the role VC/PE investors play in helping tfirms bridge their

beyond the proParticular attention will be devoted to theinstitutional varietyWe will consider factors affecting

ly of VC/PE fdemand for and the suppmacro levemicro and

a


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PD ustrial EngineeriMIU - LIUCFA

IE usyhdistys RyETFI - Helsinki

(ZEW

Financing entrepreneurial ventures in Europe : impact on innovation,employment growth and competitiveness

VICO

I

olitecnico di Milanoepartment of Management, Economics and Indassimo Gaetano COLOMBO

ng

T - Milan

niversit Carlo Cattaneoaculty of Economynna GERVASONI

- CastellanzaTlinkeinoelmn Tutkimuslaitoksen Kannat .tlaerttu LUUKKONEN

Zentrum fr Europische Wirtschaftsforschung GmbhInternational Finance and Financial ManagementTereza TYKVOVADE - Mannheim

Universidad Complutense de MadridEconomia Financiera y Contabilidad III

Jose MARTI PELLONES - Madrid

niversity College London

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USchool of Slavonic and East European StudiesJennie HUGHESUK - London

Vlerick Leuven Gent Management SchoolAccounting and FinanceSophie MANIGARTBE - Gent

Universiteit GentFaculty Economics and Business AdministrationBart CLARYSSEBE - Gent

european union research in economics

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